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| KBR to sell Production Services group KBR, the engineering, construction and services subsidiary of Halliburton, has reached an agreement to sell the Production Services group, part of the company's Energy and Chemicals division, through a transaction which is expected to close in the second quarter of 2006. Based in Aberdeen, the Production Services group delivers a range of support services to oil and gas exploration and production customers and has been in operation for over 25 years. Following the sale, the group will operate under the name Production Services Network (PSN). Financing for the purchaser will be provided by the Bank of Scotland Integrated Finance. Although terms of the transaction are not disclosed, the transaction is expected to result in a pre-tax gain to Halliburton of approximately $100 million during the second quarter of 2006. write your comments about the article :: © 2006 Construction News :: home page |